Leo Dryfruits and Spices SME IPO attracts over 169 times bids on Day 3, shares to debut next week

Leo Dryfruits and Spices IPO

Leo Dryfruits and Spices Trading's initial share sale continued to attract buyers even on the last day of subscription, subscribing 169.08 times on January 3. The share allotment will be finalised on January 6, while trading in its equity shares will commence on the BSE SME platform effective January 8.

The spices and dry fruits manufacturer and trader launched the IPO on January 1 to raise Rs 25.12 crore via fresh issue of 48.3 lakh shares. The price band for the offer was Rs 51-52 per share.

The Maharashtra-based company intends to utilise IPO funds mainly for its working capital requirements, and branding, advertisement and marketing activities, besides general corporate purposes.

Investors have put in bids for 59.28 crore equity shares against the offer size of 35.06 lakh shares via 1.36 lakh applications, the subscription data on the NSE showed.

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The robust demand to the Leo Dryfruits and Spices IPO was seen across categories of investors, with non-institutional investors being at the top subscribing 292.24 times their reserved portion. Retail investors bid 154.5 times their allotted quota, while the qualified institutional buyers picked 68.06 times the part set aside for them.

Before the IPO opened for public subscription, the company had raised Rs 6.88 crore from institutional investors via its anchor book on December 31. Smart Horizon Opportunity Fund, Ashika Global Securities, Saint Capital Fund, Chanakya Opportunities Fund, and Beacon Stone Capital were some of investors in the anchor book.

This was the first public issue from the SME segment in the new year 2025, followed by seven IPOs - Davin Sons Retail, Parmeshwar Metal, Fabtech Technologies Cleanroom, Indobell Insulation, Avax Apparels and Ornaments, Delta Autocorp, and B R Goyal Infrastructure.